Jakarta. The Indonesian central bank is upgrading the country’s flagship QR code digital payment system with a new feature called QRIS Tuntas to enable cash deposits, transfers, and even withdrawals. 

Bank Indonesia first launched QRIS (Quick Response Indonesia Standard) in 2019, although its nationwide implementation only began the following year. QRIS use to this day is limited to making cashless payments by scanning QR codes. The central bank on Thursday revealed it would expand its uses to include cash deposits, among others, as a  “present” for Indonesia’s 78th Independence Day anniversary. 

QRIS Tuntas is expected to be ready as soon as September 1. However, its implementation can start on November 30 at the latest. According to Bank Indonesia Governor Perry Warjiyo, QRIS Tuntas charges users cheaper administration fees.

“The admin fee to withdraw money using QRIS Tuntas is only Rp 6,500 ($0.42). It would usually cost you between Rp 10,000-20,000 [for each transaction] when withdrawing money [via agents],” Perry told a conference in Jakarta on Friday.

“We will be able to transfer money using QRIS Tuntas just by paying Rp 2,500,” Perry said while adding that the fee is the same as BI-FAST.

BI-FAST is the central bank’s retail payment system which requires users to have banking accounts to make a transfer. Those who do not have accounts and only possess digital wallets will be able to use QRIS Tuntas to transfer money. Transfers of up to Rp 100,000 will only get an admin fee of only Rp 2,000.

"Cash deposits via QRIS Tuntas will be much more affordable and will only charge you a Rp 5,000 fee," Perry said.

According to a separate press statement, the QRIS Tuntas project already went through a series of trials that involved 16 payment service and payment system infrastructure providers. The release, however, did not reveal which of those 16 providers were.

Bank Indonesia earlier this year reported that the QRIS had recorded 30.87 million users as of Feb. 2023. As many as 24.9 million merchants have also adopted the QR system to accept their customers’ payments. QRIS has posted 121.8 million transactions that totaled Rp 12.28 trillion in value as of February.

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